00:01
Maggie chen is paid a specific amount of money for work during a set calendar period.
00:06
Regardless of the actual number of hours worked, this money is called.
00:11
So our options are a bonus, benefits, a salary, compensation, a wage.
00:19
So a bonus is a one -time award in a sense.
00:28
I wouldn't even necessarily call it a payment.
00:30
It's a reward for a job well done.
00:36
I guess you could think of it that way.
00:38
Benefits aren't necessarily monetary.
00:43
They're not an amount of money.
00:44
They're in addition to the money that you're paid.
00:48
So benefits are things such as medical insurance, dental insurance, retirement, those kinds of things.
00:59
So then we have things that would fall more into the realm of amount of money for work, salary, compensation, and a wage.
01:09
So the difference between the three of those, a wage is based off of hourly pay.
01:13
So that would not be what we are describing here because this says regardless of the actual number of hours.
01:20
Compensation is just the overall description of the money that you earn for work.
01:30
But a salary is a specific term.
01:35
So salary is a set amount of money that you earn and it is not necessarily tied to a set number of hours...